USDA | UNITED STATES DEPARTMENT OF AGRICULTURE
USDA (United States Department of Agriculture) LOANS
Ready to start your next homeownership journey? Click the button below to begin our speedy secure pre-approval & application process.
WHAT IS A USDA LOAN?
A USDA (United States Department of Agriculture) Mortgage Loan, also known as a USDA Rural Development Loan, is a government-backed home loan program designed to encourage home ownership in rural and eligible suburban areas. Administered by the USDA, this loan program aims to assist moderate to low-income individuals and families in acquiring affordable housing.
USDA LOAN REQUIREMENTS
To qualify for a USDA Loan you'll need:
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Minimum credit score of 700
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Debt-To-Income Ratio (DTI) lower than 45% in most cases.
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Up to 100% LTV
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Subject Property being financed must be located in an eligible rural or suburban area as defined by the USDA.
WHO'S A GOOD FIT FOR A USDA LOAN?
USDA loans cater to a specific demographic of homebuyers, predominantly those with moderate to low incomes facing challenges securing traditional financing. Among the primary beneficiaries are families with constrained financial resources, as the income limits for eligibility vary based on location and family size. First-time homebuyers are drawn to USDA loans due to the 100% financing option, eliminating the need for a down payment and easing the financial burden on individuals or families with limited savings. The program's emphasis on promoting homeownership in rural and eligible suburban areas makes it an ideal choice for those seeking residences outside urban centers.
LOOKING FOR MORE LOAN PROGRAMS?
Use the button below to return to our Loan Programs page to view additional lending options and programs.